Published by mark itwired
Posted on October 6, 2021
5 min readLast updated: January 30, 2026
The automotive turbochargers market is set to grow at 8.8% CAGR from 2021 to 2031, driven by innovations in e-turbochargers and strict emission regulations.
As per a recent study by ESOMAR-certified firm Future Market Insights (FMI), the global automotive turbochargers market will be valued at US$ 9.6 Bn in 2021, exhibiting robust growth at 8.8% CAGR between 2021 and 2031.
Tightening restrictions to curb harmful greenhouse gas emissions across various countries, coupled with growing consumer demand for high-performance passenger cars are chief factors fostering sales in the global automotive turbocharger markets.
E-turbochargers are gaining traction in the automotive industry, thereby encouraging manufacturers to focus on product development and innovations regarding e-turbochargers for their incorporation in hybrid vehicles, which is driving the market growth.
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Additionally, increasing adoption of electric and hybrid vehicles in developed countries such as the U.S., the U.K., and Germany, along with growing applications of variable geometry technology in turbochargers is promoting sales in the market.
In developing countries such as China, India, South Korea, and Brazil, automotive turbochargers market growth can be attributed to growing consumer preference for high-performance and fuel-efficient passenger cars, creating lucrative opportunities for leading manufacturers in the market.
Key Takeaways from FMI’s Automotive Turbochargers Market Study
“Technological advancements in automotive turbochargers that support fuel efficiency and optimal performance, coupled with increasing automotive sales will broaden growth prospects for players operating in the market,” says the FMI analyst.
Competitive Landscape
Garret Advancing Motion (formerly Honeywell), BorgWarner Inc., IHI Corporation, Cummins Inc., Bosch Mahle Turbo Systems GmbH & Co, Eaton Corporation plc, Weifang FuYuan Turbochargers Co., Ltd., Mitsubishi Heavy Industries, Continental AG, and Toyota Industries Corporation are some leading manufacturers operating in the automotive turbochargers market.
As per FMI’s analysis, the global automotive turbochargers market is dominated by top 5 players, including Garret Advancing Motion (formerly Honeywell), BorgWarner Inc., IHI Corporation, Mitsubishi Heavy Industries, and Cummins Inc., accounting for nearly 85% of the market share.
Key players are striving to strengthen their foothold in the market by emphasizing on various inorganic strategies that include site expansion, new product launches, increased research and development, and strategic collaborations. For instance:
More Insights on the Automotive Turbochargers Market
In its latest report, FMI offers an unbiased analysis of the global automotive turbochargers market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of fuel type (gasoline and diesel), vehicle type (passenger car, LCV, HCV, agricultural machinery, and construction machinery), product type (wastegate, variable-geometry technology and twin-turbo), sales channel (OEMs and aftermarket), actuator type (hydraulic, pneumonic and electric) and across seven regions. (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).
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Scope of Report
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | USD Million for Value |
| Key Countries Covered | US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Fuel Type, Vehicle Type, Product Type, Sales Channel, Actuators, and Regions |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Key Questions Answered in the Report
The automotive turbochargers market surpassed a valuation of US$ 9.6 Bn in 2021.
The automotive turbochargers market experienced sluggish growth at around 1.8% CAGR between 2016 and 2020.
Increasing adoption of variable geometry turbochargers and growing popularity of e-turbochargers in hybrid medium-sized vehicles are the key trends driving automotive turbochargers sales.
The post Automotive Turbochargers Market Globally Expected to Drive Growth through 2021 appeared first on Industry News Analsis.
The main topic is the growth and trends in the global automotive turbochargers market.
Market growth is driven by e-turbocharger innovations and emission regulations.
The U.S., China, and Germany are key regions for market expansion.
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